Gerber Life vs. Prosperity Life: Top Life Insurance in 2024
We compared Gerber Life vs. Prosperity Life life insurance companies. Gerber Life offers a wide variety of policies and specializes in policies for children. Prosperity Life specializes in unique term life policies that are renewable and convertible. Gerber Life has a slightly better A.M. Best rating of A to Prosperity’s A-.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
UPDATED: Mar 25, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Mar 25, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Gerber Life specializes in children’s policies but offers term and permanent life insurance policies for adults as well
- Prosperity Life offers several unique term life insurance options for their customers as well as whole life policies
- Gerber Life has a higher A.M. Best rating of A, while Prosperity Life has a rating of A-
Finding the right life insurance can be difficult, especially when comparing companies like Gerber Life vs. Prosperity Life. Both companies offer a lot of products, from term life insurance to annuities and more.
Keep reading to learn more about what each company offers and what sort of customers they serve to help make your decision between Gerber Life vs. Prosperity Life life insurance company easier.
Before jumping into this Gerber Life vs. Prosperity Life life insurance review, enter your ZIP code above, and we’ll show you quotes from life insurance companies operating in your area.
Gerber Life vs. Prosperity Life Overview
Looking to compare affordable Gerber Life vs. Prosperity Life life insurance shows that the companies offer many of the same types of policies, catering to people at various different stages of life. However, there are some key differences.
Gerber Life offers a total of five different policies and accident protection insurance. The company is well-known for its children’s whole life insurance policy, which Prosperity does not offer.
Gerber Life insurance is geared toward providing policies for the entire family. It offers policies designed specifically for children and teens while also offering traditional life insurance for adults.
Prosperity offers seven life insurance policies, several of them unique term policies designed to fit many customers.
Prosperity Life insurance specializes in renewable, convertible term policies, which are a fantastic option for any adult looking for affordable life insurance that can change to fit their needs over time.
Prosperity Life requires prospective customers to contact an agent to get a quote for their life insurance, while Gerber Life makes it a little easier by offering some quotes online.
Prosperity Life is a good choice for adults who want a unique term or whole life policy, as they offer a broader range of policy types.
Prosperity Life also offers final expense whole insurance, so it’s a great choice for seniors who want an affordable whole life policy.
Gerber Life is ideal for young families who wish to protect their children’s futures with a life insurance policy or jumpstart their college savings.
Overall, the best way to start deciding which life insurance company is right for you is to look at Gerber Life vs. Prosperity Life life insurance quotes. Compare the rates and coverage to decide which is right for you.
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What coverage does Gerber Life offer?
Gerber Life insurance offers several policies, including term insurance, permanent insurance, and accident protection insurance.
Term Life Insurance
Gerber term life insurance offers coverage of up to $300,000 with a fixed monthly premium that can start as low as $15.42.
Gerber offers terms from 10 to 30 years and may not require a medical exam, meaning some customers can be approved in minutes.
Whole Life Insurance
Read on to learn more about your whole life insurance options with Gerber Life.
Grow-Up Plan
The Gerber Grow-Up Plan is a whole life insurance policy designed specifically for children under the age of 14.
This whole life insurance plan offers coverage that doubles when a child turns 18, providing anywhere from $5,000 to $50,000 in coverage to start.
The Grow-Up Plan premiums remain the same throughout your child’s life, so they can be paying as little as $3.27 per month for the entirety of their life and maintain coverage.
Young Adult Plan
The Young Adult plan is designed for teens ages 15 to 17. This plan also doubles the coverage when a child turns 18 and offers initial coverage up to $50,000. The premiums for the Young Adult plan remain at the childhood rate throughout the life of the policy, making it more affordable than adult policies.
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Adult Plan
The adult whole life insurance plan offered by Gerber Life provides coverage up to $300,000. The plan cannot be canceled as long as premiums are paid in full and it builds cash value over time.
Guaranteed Life Insurance
This plan is designed for seniors, ages 50 to 80. As the name implies, all who apply for this policy will be approved for some coverage. Coverage starts at $5,000 and goes up to $25,000.
There is no medical exam required, and this plan builds cash value over time that can be borrowed against.
Accident Protection Insurance
Gerber’s accident protection insurance offers coverage up to $100,000 with level premiums. This policy also accrues a cash benefit that can be borrowed against in emergencies. Monthly premiums can be as low as $2.17.
What coverage does Prosperity Life offer?
Prosperity Life offers both whole life insurance and term life insurance options to its customers.
The term life insurance policies are particularly popular as many of them can be converted into a whole life policy, which adds more flexibility for customers.
Term Life Insurance
Read on to learn about your term life options with Prosperity Life.
PrimeTerm to 100
Also called the Graded Death Benefit Term, this policy offers up to $30,000 in coverage with a 20-year term up to the age of 100.
After that, the policy will remain in effect, but the death benefit will decrease. The policy requires no medical exam for approval.
Income Continuation Term
This policy is designed to replace the policyholder’s income after they pass. The death benefit can be paid out monthly for a selected number of years or up until the policyholder would have been 70.
Renewable and Convertible Term
This policy adds flexibility to traditional term life insurance policies. The renewable and convertible term plan offers level premiums and is renewable up until age 98. The policy can be converted to a whole policy up to age 75.
Simple Issue Term
This is a basic term life insurance policy that features a quick application with a brief questionnaire and no medical exam.
Simple issue offers level premiums for the first 10 years of the policy and an income-tax-free death benefit with coverage up to $350,000. This policy is also renewable and convertible up to age 75.
Whole Life Insurance
Read on to learn about your whole life insurance options with Prosperity Life.
Final Expense Whole Life Insurance
This policy builds cash value over time, features level premiums, and requires no medical exam.
Whole Life Policy
This is a traditional whole life policy for anyone 18 or older. The policy earns a cash value over time, has an accelerated death benefit in the event of terminal illness, and has level premiums.
Legacy Solution
Also called single premium universal life, this policy is designed to help seniors ensure that they pass on money to those they leave behind.
This policy increases the value of the policyholder’s estate and has a return of premiums option for added security.
Who offers the most affordable coverage?
Because Prosperity Life doesn’t offer online quotes, it can be difficult to say how affordable its policies are for a comparison of Gerber Life vs. Prosperity Life life insurance.
However, term life insurance is generally the most affordable option for adults looking for life insurance, so we can look at the term rates offered by Gerber to get an idea of how affordable they are.
Gerber Term Average Monthly Life Insurance Rates by Gender and Coverage| Coverage Level | Average Monthly Rates for Men | Average Monthly Rates for Women |
|---|---|---|
| $100,000 | $23.17 | $18.87 |
| $150,000 | $32.25 | $25.63 |
| $200,00 | $41.33 | $32.50 |
| $250,000 | $50.42 | $39.38 |
| $300,000 | $59.50 | $46.25 |
Because life insurance pricing varies so greatly from person to person and from company to company, the best thing to do is get a quote from both companies and compare.
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Gerber Life Basics
Gerber Life, founded in 1967, has made a name for itself by providing life insurance policies for families.
The company has a good financial reputation, with an A.M. Best rating of A and a stable outlook for the future.
According to the National Association of Insurance Commissioners (NAIC), Gerber Life has fewer than average complaints filed against them, with a score of .44 on the complaint index.
Read more:
- Gerber Life vs. Mutual of Omaha: Top Life Insurance
- Gerber Life vs. Mutual of Omaha: Best Choice for Life Insurance
- Gerber Life vs. Oxford: Top Life Insurance
Prosperity Life Basics
Founded in 2009, Prosperity Life is a subsidiary of the larger company SBLI. It offers a wide range of life insurance products, each tailored to suit a different customer’s needs.
The company also offers several other financial products to customers, including supplemental health products and annuities.
Despite its relatively short time on the market, Prosperity Life has a good reputation, with an A.M. Best score of A- and a stable financial outlook. The NAIC has registered a low number of complaints about Prosperity Life, with an index score of 0.22.
Always compare Gerber Life vs. Prosperity Life life insurance rates and stack them up against rates from other companies, as well. The more quotes you get, the more confident you can be that you are not paying more than you should for life insurance.
Before you decide whether to buy Gerber Life vs. Prosperity Life life insurance, enter your ZIP code below and we’ll pull up life insurance providers available in your area.
Your one-stop online guide for life insurance quotes. Get free quotes now!
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...
Farmers CSR for 4 Years
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.